Technology Crossover Management XI, Ltd.

In its 13F for Q1 2025 (holdings as of March 31, 2025, filed May 9, 2025), Technology Crossover Management XI, Ltd. reported 3 stock positions worth $981.6 million. Its top holding was Spotify Technology (SPOT) at 72.7% of the portfolio, followed by Zillow Class C (Z, 16.3%) and Maplebear (CART, 11.0%). Its holdings were unchanged from Q4 2024.

Most Recent 13F
Q2 2026
Location
MENLO PARK, CA
CIK
0001977402
Portfolio Value
$981.6M (Q1 2025)
SEC Filing
0001104659-25-046718 ↗ filed May 9, 2025

Holdings Value

0$500.0M$1.0B$1.5B Q1 2024: $443.0M Q1 2024 Q2 2024: $602.3M Q2 2024 Q3 2024: $737.4M Q3 2024 Q4 2024: $865.4M Q4 2024 Q1 2025: $981.6M $981.6M Q1 2025 Q2 2025: $1.1B Q2 2025 Q3 2025: $977.4M Q3 2025 Q4 2025: $740.2M Q4 2025 Q1 2026: $581.7M Q1 2026 Q2 2026: $532.8M Q2 2026

Holdings 3 stocks · $981.6M
SPOT Spotify Technology SA 72.70% 1,297,323 $713.6M No change
Z Zillow Group Inc. Class C 16.33% 2,338,036 $160.3M No change
CART Maplebear Inc. 10.97% 2,700,000 $107.7M No change

Portfolio Sells Q4 2024 → Q1 2025
None this quarter.

Portfolio Buys Q4 2024 → Q1 2025
None this quarter.

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 2$532.8MSPOT, Z
Q1 2026 2$581.7MSPOT, Z
Q4 2025 2$740.2MSPOT, Z
Q3 2025 3$977.4MSPOT, Z, CART
Q2 2025 3$1.1BSPOT, Z, CART
Q1 2025 3$981.6MSPOT, Z, CART
Q4 2024 3$865.4MSPOT, Z, CART
Q3 2024 3$737.4MSPOT, Z, CART
Q2 2024 3$602.3MSPOT, Z, CART
Q1 2024 2$443.0MSPOT, CART